Homework Question 2 of 9 -13 View Policies Current Attempt in Progress On January 1, 2022, Waterway Industries had Accounts Receivable of $53,500 and Allowance for Doubtful Accounts of $3,800. Waterway Industries prepares financial statements annually. During the year, the following selected transactions occurred: Jan. 5 Feb. 2. 12 26 Apr. 5 12 June 2 15 Sold $3,200 of merchandise to Rian Company, terms n/30. Accepted a $3,200, 4-month. 9% promissory note from Rian Company for balance due. Sold $12,180 of merchandise to Cato Company and accepted Cato's $12,180,2-month 10% note for the balance due. Sold $5.700 of merchandise to Malcolm Co., terms 1/10. Accepted a $5.700, 3-month, 7% note from Malcolm Co, for balance due. Collected Cato Company note in full, Collected Rian Company note in full Sold $1,900 of merchandise to Gerri Inc and accepted a $1.900,6-month, 13% nate for the amount due